GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A life annuity in which there is no refund to any beneficiary at the death of the annuitant is termed as ____
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Straight Life
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Subrogation
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Subjective Risk
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Straight Life Annuity
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Explanation:
Detailed explanation-1: -A straight-life annuity is a type of annuity that provides a fixed, steady income stream for an individual’s lifetime. It is a long-term, tax-deferred investment product that can provide guaranteed income for the rest of someone’s life.
Detailed explanation-2: -Straight Life Option/Regular If you choose the straight life option, you receive the maximum monthly pension payable throughout your lifetime. No ongoing pension payments or insurance are provided to your survivors.
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